Canara Bank sees improvement in bad loan ratios in coming quarters

A decent cash recovery from resolution of Essar Steel, Binani Cement, Odisha Slurry accounts to help the lender reduce its NPA levels

With resolutions in large bad loan accounts such as Essar Steel and Binani Cement gathering pace at National Company Law Tribunal (NCLT), public sector lender Canara bank is likely to witness a significant decline in its bad loan ratios in the coming quarters.

The bank sees its gross non-performing assets (NPA) to be around 9 per cent and net NPA to be below five per cent by the end of this financial year, a top official said. The Bengaluru-headquartered lender had reported a gross NPA of 10.56 per cent and net NPA of 6.54 per cent in the quarter ended